This is off-topic when it comes to LENR, but since we discuss a lot of things here connected with the big picture of energy, I thought this was worth mentioning.
The U.S. Geological Survey announced this week that they have determined that an area of west Texas known as the Wolfcamp shale of the Midland Basin, Permian Basin Province, contains 20 billion barrels of recoverable oil and 16 trillion cubic feet of recoverable natural gas.. This would make it the largest oil and gas field in the United States, three times larger than the Bakken Shale area of North Dakota which has produced huge amounts of oil and gas in recent years and contributed the the United States becoming the largest producer of oil and gas in the world.
New extraction techniques developed in recent years (fracking) have made much more oil and gas recoverable than was previously available, and this is what has made such a difference in US production.
In a statement from the USGS, Walter Guidroz, program coordinator for the USGS Energy Resources Program stated: “The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more.”
We’ve been discussing here lately the commitment of the upcoming Trump administration to develop US petroleum resources, and this find could play into this new push. Still, the oil and gas industry is susceptible to the boom and bust cycle, and more supply could push prices lower over time, and make the development of these resources unattractive economically.
Still, if LENR ever hits the market and is commercially competitive with petroleum (as I believe it has the potential to be), it’s possible that these vast oil and gas resources may remain largely undeveloped.
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
USGS announces Biggest Oil and Gas Field Ever in the USA
This is off-topic when it comes to LENR, but since we discuss a lot of things here connected with the big picture of energy, I thought this was worth mentioning.
The U.S. Geological Survey announced this week that they have determined that an area of west Texas known as the Wolfcamp shale of the Midland Basin, Permian Basin Province, contains 20 billion barrels of recoverable oil and 16 trillion cubic feet of recoverable natural gas.. This would make it the largest oil and gas field in the United States, three times larger than the Bakken Shale area of North Dakota which has produced huge amounts of oil and gas in recent years and contributed the the United States becoming the largest producer of oil and gas in the world.
New extraction techniques developed in recent years (fracking) have made much more oil and gas recoverable than was previously available, and this is what has made such a difference in US production.
In a statement from the USGS, Walter Guidroz, program coordinator for the USGS Energy Resources Program stated: “The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more.”
We’ve been discussing here lately the commitment of the upcoming Trump administration to develop US petroleum resources, and this find could play into this new push. Still, the oil and gas industry is susceptible to the boom and bust cycle, and more supply could push prices lower over time, and make the development of these resources unattractive economically.
Still, if LENR ever hits the market and is commercially competitive with petroleum (as I believe it has the potential to be), it’s possible that these vast oil and gas resources may remain largely undeveloped.